ceciliazhang Post time 2018-9-3 14:39:23

Mobile payment on fast growth in China

China's mobile payments continued a fast growth in the second quarter of 2018.
(China Plus) Data from the country's central bank shows, the country's banks processed about 15 billion mobile payment transactions in Q2, up 73 percent year on year.

The value of these transactions totaled about 63 trillion yuan (9.24 trillion US dollars), up 60 percent year on year.

China's online payment industry has grown quickly in recent years amid growing availability of smartphones.

Online payment transaction value by non-banking institutions totaled 48.29 trillion yuan (7.1 trillion dollars) in Q2, up 53.35 percent year on year.

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